Avestar Capital LLC raised its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,050 shares of the oil and gas company’s stock after acquiring an additional 359 shares during the quarter. Avestar Capital LLC’s holdings in Chevron were worth $906,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CVX. Good Life Advisors LLC grew its stake in shares of Chevron by 2.6% in the 3rd quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after buying an additional 719 shares during the last quarter. M&R Capital Management Inc. raised its holdings in Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after purchasing an additional 674 shares during the period. Sage Mountain Advisors LLC raised its holdings in Chevron by 77.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock worth $875,000 after purchasing an additional 2,632 shares during the period. CapWealth Advisors LLC raised its holdings in Chevron by 0.6% in the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock worth $24,959,000 after purchasing an additional 1,097 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in Chevron by 0.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock worth $2,688,000 after purchasing an additional 155 shares during the period. 69.37% of the stock is owned by institutional investors.
Analyst Ratings Changes
CVX has been the topic of a number of recent research reports. Raymond James decreased their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. Cowen decreased their price target on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Wells Fargo & Company decreased their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. StockNews.com initiated coverage on Chevron in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Piper Sandler decreased their price target on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $189.33.
Insider Activity
Chevron Trading Up 0.5 %
Shares of Chevron stock opened at $163.16 on Friday. The business has a 50-day moving average price of $165.22 and a 200-day moving average price of $169.40. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The firm has a market cap of $311.09 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.78 and a beta of 1.16.
Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same period last year, the firm earned $2.56 earnings per share. Chevron’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 14.55 EPS for the current fiscal year.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.70%. Chevron’s dividend payout ratio (DPR) is 33.04%.
Chevron announced that its board has initiated a stock buyback program on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
About Chevron
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
Featured Articles
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze, Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
- Walmart Shares Jump on Evercore Analyst Upgrade
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
